Swati Pandey

Australia’s lenders are “unquestionably strong” and its households and firms are well placed to cope with higher interest rates and inflation, the Reserve Bank said, seeking to alleviate concerns about potential fallout from global financial turmoil.

Australia’s Commercial Property Sector at Risk After Bank Turmoil, Says RBA

While Kiwi policymakers surprise with a bigger-than-expected increase, the Aussies pause their hiking cycle

Australia’s central bank Governor Philip Lowe pushed back against criticism of his rate-setting board by an external panel and reiterated that he’s willing to remain at the helm if offered an extension of his term.

Australia’s fiscal coffers are rapidly refilling as high commodity prices and near-full employment bring windfall tax revenue, raising the possibility of the country recording its first budget surplus in 15 years.

Australian retail sales rose for a third straight month in March, driven primarily by food inflation, as household spending begins to cool under the weight of the Reserve Bank’s aggressive interest-rate increases.

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Australian retail sales were flat in April, ending a three-month streak of gains, suggesting consumers are reining in spending as interest rates near a peak and cost of living pressures remain elevated.

Australian approvals to build new homes tumbled to the lowest level in 11 years, driven by fewer permits for apartment buildings, suggesting weak residential property investment will continue to drag on the economy.

Australia’s industrial relations umpire raised the national minimum wage by 5.75% from July 1 in an effort to support low-paid workers at a time of rising living costs and a tight labor market.